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Are 5yr GIC Rates Finally on the Rise?

October 20, 2021

Here are the 5 year GIC rates for the past six months for the most competitive banks and credit unions that WhatBank follows: Canadian Tire Bank, Oaken Financial, and Saven Financial.

During these six months, Oaken and Saven each changed its 5yr GIC rate twice. Canadian Tire Bank, clearly working from a different playbook, changed its 5yr GIC rate 41 times!


A Six Month Overview of GIC Rates

Sparklines are small charts that help you to see trends in data.

Here are the 5 year GIC rates from January 1st to June 30th, 2021 for a selection of banks and credit unions that WhatBank follows.

The charts are arranged in descending order based on the rate on June 30th.